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Critical Materials Future Act: Supporting Domestic Processing and Supply Chain Security

This Act establishes a $750 million pilot program aimed at supporting the domestic processing and recycling of critical materials essential for modern technology and energy security. The goal is to reduce U.S. reliance on foreign supply chains, particularly those controlled by countries deemed risky, thereby ensuring supply stability and strengthening national security. These investments are intended to stabilize the prices and availability of end products like batteries and advanced components.
Key points
Establishment of a pilot program to financially support at least three domestic projects for processing critical materials (e.g., rare earth metals).
Utilization of innovative financial tools (such as price floors and contracts for difference) to stabilize the market and encourage private investment in domestic processing facilities.
Prioritization of projects using raw materials sourced from the U.S. or trusted allies to enhance energy and national security.
Authorization of $750 million for the program and creation of a revolving fund to reinvest generated revenues.
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Additional Information
Print number: 118_S_5251
Sponsor: Sen. Hickenlooper, John W. [D-CO]
Process start date: 2024-09-25
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Critical Materials Future Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_5251.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-09-25.

What are the main provisions?

Key points include:

  • Establishment of a pilot program to financially support at least three domestic projects for processing critical materials (e.g., rare earth metals).
  • Utilization of innovative financial tools (such as price floors and contracts for difference) to stabilize the market and encourage private investment in domestic processing facilities.
  • Prioritization of projects using raw materials sourced from the U.S. or trusted allies to enhance energy and national security.
  • Authorization of $750 million for the program and creation of a revolving fund to reinvest generated revenues.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Hickenlooper, John W. [D-CO].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy Security Public Investments